Dover Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Dover Corp (NYSE:DOV) will unveil its latest earnings on Friday, October 21, 2011. Dover operates a portfolio of manufacturing companies providing innovative components and equipment, specialty systems, and support services for a variety of applications to global customers.

Dover Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.13 per share, a rise of 15.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.22. Between one and three months ago, the average estimate moved down. It also has dropped from $1.15 during the last month. For the year, analysts are projecting profit of $4.48 per share, a rise of 29.1% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 6 cents, reporting net income of $1.19 per share against a mean estimate of profit of $1.13 per share.

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Wall St. Revenue Expectations: On average, analysts predict $2.19 billion in revenue this quarter, a rise of 16.5% from the year ago quarter. Analysts are forecasting total revenue of $8.41 billion for the year, a rise of 18% from last year’s revenue of $7.13 billion.

Analyst Ratings: Analysts are bullish on Dover as four analysts rate it as a buy, one rates it as a sell and three rate it as a hold.

A Look Back: In the second quarter, profit rose 47% to $249.8 million ($1.32 a share) from $169.9 million (90 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 20.7% to $2.16 billion from $1.79 billion.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 23.7%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 25.8% from the year earlier quarter.

The company has seen net income rise in three straight quarters. Net income rose 80.3% in the first quarter and more than twofold in the fourth quarter of the last fiscal year.

Competitors to Watch: Illinois Tool Works Inc. (NYSE:ITW), Danaher Corporation (NYSE:DHR), Spectrum Control, Inc. (NASDAQ:SPEC), Actuant Corporation (NYSE:ATU), SPX Corporation (NYSE:SPW), Gardner Denver, Inc. (NYSE:GDI), 3M Company (NYSE:MMM), IDEX Corporation (NYSE:IEX), The LGL Group, Inc. (AMEX:LGL), and AMETEK, Inc. (NYSE:AME).

Stock Price Performance: During July 22, 2011 to October 17, 2011, the stock price had fallen $14.66 (-22.1%) from $66.45 to $51.79. The stock price saw one of its best stretches over the last year between February 3, 2011 and February 14, 2011 when shares rose for eight-straight days, rising 4.6% (+$2.96) over that span. It saw one of its worst periods between April 1, 2011 and April 14, 2011 when shares fell for 10-straight days, falling 4.3% (-$2.86) over that span. Shares are down $5.82 (-10.1%) year to date.

(Source: Xignite Financials)

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